REVIEW OF 23rd July 2012 AND UPDATE FOR 24th July 2012

NIFTY  FUTURE – 23^rd   July Recap

NIFTY FUT we mentioned that the BEARS LAST STAND point of the day is 5175. Thanks to weak global cues NIFTY FUT made a gap down opening. Look at the Open High made- (5174) exactly below our positional Support levels. Once that level was failed to cross, NIFTY FUT drifted downwards to do all our downside targets and beyond as well. Look at how the levels worked brilliantly even in a massive gap down situation. Also markets range expanded finally giving intra day traders a good trading opportunity after a long time. NIFTY range created was also one of the highest in a long time. NIFTY FUT witnessed a higher volume compared to that in the last 7 days. This indicates that the downward momentum was strong. NIFTY FUT managed to hold onto 5100 levels today. This will be crucially watched out in the next few trading sessions.

 Our NIFTY FUT traders short below 5155 and booked profits all the way till 5120. But again the trade of the day was our BANKNIFTY FUT traders. Who had overnight shorts at 10520 and further added shorts below 10400 and booked profits all till 10300. Massive gains....... Where to take the next trade? Did you catch the move in the right time?..... Are you still guessing where to trade.Did you take a similar trade and captured the opportunity? Are you still worried where to take the trade entries? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

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NIFTY FUTURE – 24^th   July Trading Guide

NIFTY FUT barely managed to hold onto to 5100 levels today after opening gap down below 5175 .This was the level clearly marked out in our last few trading guide. Now let us look at medium term charts to see where NIFTY FUT may head in the coming sessions. NIFTY FUT had a crucial retracement level at 5135 level, which failed to hold. This will prove as the immediate resistance zone and failing to cross this NIFTY FUT will test 5095 and lower. On the downside a breach of 5095 will test 5050-60 zone, which will prove as a crucial support zone where NIFTY FUT should find support in case that level is tested. On the Upside if NIFTY FUT manages to trade above 5135 it will attempt 5155 and further beyond it 5175 levels. Medium term levels remain on the short side until NIFTY FUT trades below 5175. Immediate midterm bias remains negative until NIFTY FUT holds below 5135.


Please note these are not just pivot points. These are trading levels where we believe market momentum is in inflection points and are meant to provide guidance to traders.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5175-80 sustaining above which it will target 5195,5210,5235
POWERTRADE TREND DECIDER OF THE DAY ------- 5130-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5085-5090
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ----5060,5045,5015

Detailed analysis also posted at www.powertrades.blogspot.com

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